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4) If total expenses are greater than total revenues, the IncomeSummary account will be closed by a debit toa.Cash and a credit to Income Summaryb.
4) If total expenses are greater than total revenues, the IncomeSummary account will be closed by a debit toa.Cash and a credit to Income Summaryb. Income Summary and a credit to Cashc. Capital an 2 answers
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Fundamental Managerial Accounting Concepts
Authors: Edmonds, Tsay, olds
6th Edition
71220720, 78110890, 9780071220729, 978-0078110894
